December 13, 2016

Blame Game: Maduro Looks For A Scapegoat For Venezuela’s Economic Problems

In the latest measure to combat “mafia” activity, Venezuela will close its border with Colombia for 72 hours. President Nicolas Maduro is blaming that pesky mafia for destroying the nation’s economy. It’s a convenient scapegoat, especially since petrol and other government subsidized items are sold at a huge profit over the border in Colombia, creating an opportunity for border operations. But this is just Part Two of Maduro’s grand campaign to pin the country’s economic problems on a vague group of other people. On Sunday, he announced that Venezuela’s highest denomination bank note would be taken out of circulation, to fight the elusive mafia but also to complicate everyone else’s lives. There are more than six billion units of the newly banned 100-bolivar notes in circulation, making it about half of all currency in the nation. Venezuelans now only have 10 days to exchange the notes for currency that will actually work, and they can only hold this transaction at the Central Bank. 

Yes, I want to sound marginally more intelligent: